Exam 12: The Importance of Intellectual Property

A trade secret is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.

According to the textbook, trade secret disputes arise most frequently when ________.

Which of the following is NOT a type of trademark?

Trade secret disputes arise most frequently when one firm alleges that a trade secret claimed by another firm is common knowledge, and can therefore be used by anyone.

The Savvy Entrepreneurial Firm feature in Chapter 12 focuses on provisional patent applications. The main point of the feature is to illustrate that filing a provisional patent application effectively takes ________.

A patent is a grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for the term of the trademark.

Combinations of numbers and letters, such as 3M and 1-800-CONTACTS, can be trademarked.

Intellectual property is any product of human intellect that is intangible but has value in the marketplace.

A trademark is registered with the ________.

A trademark is a word, name, symbol, or device used to identify the source or origin of products or services and to distinguish those products or services from others.

Certification marks are similar to ordinary trademarks, but they are used to identify the services or intangible activities of a business rather than a business's physical product.

Which of the following is an example of intellectual property?

Which form of intellectual property protection is the only one expressly mentioned in the original articles of the U.S. Constitution?

Patent ________ takes place when one party engages in the unauthorized use of another party's patent.

Trademark law falls under the Lanham Act, which passed in 1946.

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to ________.

A utility patent is good for ________ years from the date of the original application, a design patent is good for ________ years from the date the patent is granted, and a plant patent is good for ________ years from the date of the original application.

Copyright law protects any work of authorship ________.

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a(n) ________.

Copyright infringement occurs when one work derives from another or is an exact copy.